The Common Owner platform was created to connect real estate developers and businesses with investors in urban areas in order to create or restore economic productivity and a desirable sense of place. Access to capital is the largest barrier for new and small businesses and real estate developers, especially in small real estate markets like Buffalo. Common Owner facilitates access to capital for projects while also allowing investors to build new equity opportunities. Now everyone can profit from the real estate investments being made in their own community.
The portal’s first investment opportunity (for accredited investors only at this time) is live on the site. This adaptive reuse of the Barcalo manufacturing facility, being undertaken by developers Karl Frizlen and Michael Masters, in the Old First Ward is utilizing historic tax credits and is in an Opportunity Zone; both tools which can help in providing better returns to investors.
Common Owner relies on modern technology and capitalizes on recent changes in federal securities laws to facilitate debt and equity capital formation for real estate development projects and small businesses. Investments will rely on one of two exemptions from securities registration, created by the JOBS Act of 2013 and related regulations.
The portal opens up new, previously inaccessible, sources of capital in a manner that complies with the securities laws and regulations. Real estate developers will overcome challenges ranging from an underdeveloped investor network, onerous lender underwriting requirements, to concerns regarding gentrification or wealth extraction with little to no local benefit. Investors will have access to a new high-potential, albeit risky, asset class in their own community.
The goal is to expand the portal into more small real estate markets around the country in the next few years.
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